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United States · Bill · S

S. 818 (107th)

Capital Gains Relief and Simplification Act of 2001

referredUnited States· United States Congress· EN

Introduced

2 May 2001

Last action

2 May 2001 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Hatch, Orrin G. [R-UT], Sen. Torricelli, Robert G. [D-NJ], Sen. Kyl, Jon [R-AZ], Sen. Murkowski, Frank H. [R-AK], Sen. Lieberman, Joseph I. [ID-CT]

Subjects

Taxation

Source updated

19 August 2025

Taxation

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Summary

Capital Gains Relief and Simplification Act of 2001 - Amends the Internal Revenue Code to allow an individual a long-term capital gains deduction equal to the sum of: (1) the lesser of the net capital gain of the taxpayer for the taxable year, or $1,000 ($2,000 in the case of a joint return); and (2) 50 percent of such gain not taken into account under (1). Sets forth rules concerning: (1) section 1250 property (gain from dispositions of depreciable realty); (2) pass-thru entities; (3) coordination with maximum capital gains rates; and (4) collectibles. Decreases the from one year to six months the holding period required for long-term capital gain treatment. Increases the limitation on the capital losses of non-corporate taxpayers allowable against ordinary income. Sets forth a special rule suspending, for members of the uniformed services and foreign service, the five year period applicable to excluding gain from the sale of a principal residence.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 2 May 2001

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 2 May 2001

    Introduced

    Sponsor introductory remarks on measure. (CR S4182-4183)

    Source: IntroReferral

  3. 2 May 2001

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 2 May 2001

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 2 May 2001

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 2 May 2001

    Open at official source

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Sponsors

Related records

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Sources

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